With alot of SE changing cars at the moment, are there any tips for negotiating the best price? Different approches for Dealer/Private seller? Percentage that you should expect off the asking price? when to Kick the tyres/Not kick the tyres?
Stuart
Buying & Negotiation
Buying & Negotiation
No, No! not Bloke. It's pronounced Black, as in Plaque
I would always have a good look round a car (including getting down on hands & knees for a look under) and in engine bay, under boot carpet etc, to look for any signs of damage. Take a mental note of all damage, and consider the cost for replacement / repair. If car is being sold as 'mint' then I would argue the price down based on any imperfections. If it is a well used car, and this is reflected in the price, then I would only use things like a bald tyre or dodgy exhaust as discussion points.
The amount of price reduction I would expect on any car would be based on how reasonable the asking price is in the first place. On a £20K car I would aim for £1K off, but would prob be happy with £750 off. On a £1K car, I would aim for £250/£200 off, and would be happy with £150ish off.
I would not kick tyres
. But would look at tread wear, across full width of tyre (as this not only shows how good tyres are, but also if tracking is out etc). Look all around for accident damage, including boot floor & under bonnet. I am always suspicious of an older car with a very clean engine bay.
I would research what something is worth, and point out what other similar cars can be bought for. Point out what is needing spent on a car, to get it up to the described condition/ value. Bear in mind, if someone does not sell a car quickly, they may need to spend money on repairs / tyres etc, so that is a worth while negotiation point.
When buying privatley I always judge the seller, and their home as much as I judge their car. To some extent you can do the same with smaller independant dealers. It's always good to establish why they are selling a car.
When negotiating, don't budge to quickly on your lowest offer. Silence is always a very powerfull tool. If you have a figure in mind, (for example for a £20K car, 19K), it's worth saying, I only have a budget of 19K, we'll do a deal now for that?, then wait for their response. If they come in at 19500, then don't jump in, pause, see if they lower it... if they use the silent treatment on you, then repeat your offer. Wait for their response... it is never good for things to go sour, be friendly and pleasant. At that point it may be worth giving a little, and offering 19100, along with a comment like, that is really pushing my budget, I do like the car, but can't afford to go any higher. If they won't budge, then question how low they can go. If they still won't budge, then be prepared to walk away, leaving them with your number. Unless it is already a good price for the car, and they have only just advertised it, and had several other enquries, then I would walk away, and give it a couple of days. IMHO
With a dealer, it's worth talking the price down, then adding as much as you can; road tax, tank of fuel, mats etc to seal the deal.
I sold my elise a few years ago, when it was only a few hundred miles from it's next service, had 1 week's MOT & Tax left, but the buyers never asked, so I did not point these things out. Always ask for the above! I was aware they may ask, to just kept talking (enthusing about the car), and kept them of the subject.
The amount of price reduction I would expect on any car would be based on how reasonable the asking price is in the first place. On a £20K car I would aim for £1K off, but would prob be happy with £750 off. On a £1K car, I would aim for £250/£200 off, and would be happy with £150ish off.
I would not kick tyres
. But would look at tread wear, across full width of tyre (as this not only shows how good tyres are, but also if tracking is out etc). Look all around for accident damage, including boot floor & under bonnet. I am always suspicious of an older car with a very clean engine bay. I would research what something is worth, and point out what other similar cars can be bought for. Point out what is needing spent on a car, to get it up to the described condition/ value. Bear in mind, if someone does not sell a car quickly, they may need to spend money on repairs / tyres etc, so that is a worth while negotiation point.
When buying privatley I always judge the seller, and their home as much as I judge their car. To some extent you can do the same with smaller independant dealers. It's always good to establish why they are selling a car.
When negotiating, don't budge to quickly on your lowest offer. Silence is always a very powerfull tool. If you have a figure in mind, (for example for a £20K car, 19K), it's worth saying, I only have a budget of 19K, we'll do a deal now for that?, then wait for their response. If they come in at 19500, then don't jump in, pause, see if they lower it... if they use the silent treatment on you, then repeat your offer. Wait for their response... it is never good for things to go sour, be friendly and pleasant. At that point it may be worth giving a little, and offering 19100, along with a comment like, that is really pushing my budget, I do like the car, but can't afford to go any higher. If they won't budge, then question how low they can go. If they still won't budge, then be prepared to walk away, leaving them with your number. Unless it is already a good price for the car, and they have only just advertised it, and had several other enquries, then I would walk away, and give it a couple of days. IMHO
With a dealer, it's worth talking the price down, then adding as much as you can; road tax, tank of fuel, mats etc to seal the deal.
I sold my elise a few years ago, when it was only a few hundred miles from it's next service, had 1 week's MOT & Tax left, but the buyers never asked, so I did not point these things out. Always ask for the above! I was aware they may ask, to just kept talking (enthusing about the car), and kept them of the subject.
From the other side of the fence... Any time I have sold cars I have always made it clear to anyone expressing an interest that the price was fixed and non negotiable. That made it easier for me as the seller since I knew I would not be getting into one of these 'bargaining' situations. Perhaps not the best way to sell cars but at least the buyers knew where they stood. As for buying... ummm. I am an easy touch and go all when haggling
Jim
when hagglingJim
Planes, Trains and Automobiles. Wanted: Train.
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deano15482
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well done.shooomer wrote:When I was buying my Porker I called up every dealership that had suitable car and told them I was buying a car tomorrow and could they call me back with their best price. I was open and told I was looking at all OPCs in UK and ended up getting £3k off price and my flight paid to collect.
when i finally go to get mine i will be looking for SE's best hagglers to help me get as much cash of as poss
I think more off on higher price cars is often achievable - BUT you have to be willing to sit it out and risk loosing car.On a £20K car I would aim for £1K off, but would prob be happy with £750 off. On a £1K car, I would aim for £250/£200 off, and would be happy with £150ish off.
With Dealer purchase push for lower finance rate/ warranty / goodies etc. to get a better deal. Keith
2015 Lotus Evora
2022 Polestar 2 LRSM Plus
2023 Skoda Kodiaq Sportline
2022 Polestar 2 LRSM Plus
2023 Skoda Kodiaq Sportline
Dom has hit the fecking nail on the head with all that he said
Long silences are brill - some folks can't deal with them and blurt out nonsense just to end them
One exception - the monies off he mentioned may vary - gauge how needy the seller is for the cash - then go in for the kill
At the very bottom of the scale, years ago I went to see a "car" for £250 in Forfar
The seller let it slip that he needed the dosh for a pishup he had that night - the beast was mine for £150, and I was clattering back down to Dundee before he could say "Pint of Lager please"
Long silences are brill - some folks can't deal with them and blurt out nonsense just to end them
One exception - the monies off he mentioned may vary - gauge how needy the seller is for the cash - then go in for the kill
At the very bottom of the scale, years ago I went to see a "car" for £250 in Forfar
The seller let it slip that he needed the dosh for a pishup he had that night - the beast was mine for £150, and I was clattering back down to Dundee before he could say "Pint of Lager please"
Ross
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1972 Alfaholics Giulia Super
2000 Elise S1 Sport 160
2004 Bentley Conti GT
2017 Schkoda Yeti
2x Hairy GRs (not Toyota)
Now browsing the tech pages
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1972 Alfaholics Giulia Super
2000 Elise S1 Sport 160
2004 Bentley Conti GT
2017 Schkoda Yeti
2x Hairy GRs (not Toyota)
Now browsing the tech pages
I went to a seminar on negotiation skills with work a while ago and learned a good few things that apply not only to my business, but also to buying things like cars. I'll dig out my notes at the weekend and see if there are any other points I've forgotten, but some of the highlights were:
- never use weak words like "about that price" and never quote ranges. Always state the exact price you're willing to pay. If you say "about £15k", the seller is already thinking £16k. If you say "between 11 and 12k" the seller is already thinking £12k
- have the following figures firmly stored in your brain before you go to see the car:
1. What you *could* get the car for (if you haggle really well)
2. What you *should" get the car for (realistically what you think it's worth)
3. Your walk away price (the absolute max you are willing to pay)
Always start with no. 1 and you have to be strong and must walk away if you end up with the seller at no.3 but not going lower.
- If you're in a dealer, I completely agree with Dom that you should get 1 year's road tax (don't accept 6 months - they give that to everyone), a full tank of fuel, mats, maybe an extra year's warranty, and some other freebies you can get your hands on. However, don't mention any of this until the very last minute. Do your haggling on the price first. Then, when you come back in a few days later or whenever to sign the paperwork, just as you're about to sign on the dotted line, lift the pen up, pause and say "I assume this includes . . . " and state all of the above. Hover the pen above the paper until he/she gives in and says yes. Even if they do the usual "I need to ask my manager", just wait. Put the pen down, cross your arms, and wait in silence. If they don't give you this stuff, get up and walk to the door. They'll either call you back or phone you the next day. It's not worth losing such a large sale over a few trivial items that are worth pennies in comparison.
- Finally, don't be afraid to haggle. While I understand what Jim has said above when selling cars, I would still haggle in that situation. In this country, it's just not the usual etiquette to haggle for anything other than a car. You should haggle for everything! We seem to be embarrassed about haggling, but you'd be amazed what discounts you can get and what free stuff you can get if you just haggle in all purchasing situations.
D
- never use weak words like "about that price" and never quote ranges. Always state the exact price you're willing to pay. If you say "about £15k", the seller is already thinking £16k. If you say "between 11 and 12k" the seller is already thinking £12k
- have the following figures firmly stored in your brain before you go to see the car:
1. What you *could* get the car for (if you haggle really well)
2. What you *should" get the car for (realistically what you think it's worth)
3. Your walk away price (the absolute max you are willing to pay)
Always start with no. 1 and you have to be strong and must walk away if you end up with the seller at no.3 but not going lower.
- If you're in a dealer, I completely agree with Dom that you should get 1 year's road tax (don't accept 6 months - they give that to everyone), a full tank of fuel, mats, maybe an extra year's warranty, and some other freebies you can get your hands on. However, don't mention any of this until the very last minute. Do your haggling on the price first. Then, when you come back in a few days later or whenever to sign the paperwork, just as you're about to sign on the dotted line, lift the pen up, pause and say "I assume this includes . . . " and state all of the above. Hover the pen above the paper until he/she gives in and says yes. Even if they do the usual "I need to ask my manager", just wait. Put the pen down, cross your arms, and wait in silence. If they don't give you this stuff, get up and walk to the door. They'll either call you back or phone you the next day. It's not worth losing such a large sale over a few trivial items that are worth pennies in comparison.
- Finally, don't be afraid to haggle. While I understand what Jim has said above when selling cars, I would still haggle in that situation. In this country, it's just not the usual etiquette to haggle for anything other than a car. You should haggle for everything! We seem to be embarrassed about haggling, but you'd be amazed what discounts you can get and what free stuff you can get if you just haggle in all purchasing situations.
D
2009 Mini Cooper, Midnight Black
2008 Elise S, Solar Yellow
2008 Elise S, Solar Yellow
I have just sold the VX i was selling for a friend within 12 hours of the ad on pistonheads.
His wife has been nagging him apparantly so he was going to let it go for 10k, i think the guy is prepared to offer a lot more, simply as it is well priced, and not to mention in VGC and 'Mint' but simply by the age old adage of Supply V's demand!
There are five other guys willing to put down deposits, and he knows as i put it on for serious offers over 10k, that he will have to pay more to secure!
It's a funny old world!
Dave
His wife has been nagging him apparantly so he was going to let it go for 10k, i think the guy is prepared to offer a lot more, simply as it is well priced, and not to mention in VGC and 'Mint' but simply by the age old adage of Supply V's demand!
There are five other guys willing to put down deposits, and he knows as i put it on for serious offers over 10k, that he will have to pay more to secure!
It's a funny old world!
Dave
2 more points;
Silence is most powerfull when eye contact is maintained. Looking at the floor or ceiling is less effective.
Also, be wary of dealers offering great reductions on cars that are over priced in the first place. Or giving a big discount on the new car, and a rubbish trade in value for your old car. Or, flattering you by giving a great trade in value on your old car, as the new car will prob be over priced. Dealers (Stealers) will always make their money. Keep an eye on the cost to change cars in that case.
Silence is most powerfull when eye contact is maintained. Looking at the floor or ceiling is less effective.
Also, be wary of dealers offering great reductions on cars that are over priced in the first place. Or giving a big discount on the new car, and a rubbish trade in value for your old car. Or, flattering you by giving a great trade in value on your old car, as the new car will prob be over priced. Dealers (Stealers) will always make their money. Keep an eye on the cost to change cars in that case.
I'm crap and end up paying full whack.
I can be quite helpful when going to see cars with other folk though - given my semi mechanical background.
Unlike Dom I do kick tyres - it makes the vendor think I'm clueless about cars and lulls him into a false sense of security so that he tends to reject the first offer. I then chip in with the critique of the car and the person then makes a second, normally lower offer, which is sometime accepted or is haggled back up to the original offer.
My now brother-in-law used this technique when we were younger to great success.
Mac
PS: Is it an S1 or S2 your looking at
I can be quite helpful when going to see cars with other folk though - given my semi mechanical background.
Unlike Dom I do kick tyres - it makes the vendor think I'm clueless about cars and lulls him into a false sense of security so that he tends to reject the first offer. I then chip in with the critique of the car and the person then makes a second, normally lower offer, which is sometime accepted or is haggled back up to the original offer.
My now brother-in-law used this technique when we were younger to great success.
Mac
PS: Is it an S1 or S2 your looking at
S2 Elise (cobalt blue with stripes) - toy spec
Caterham 7 - hillclimb spec
Yamaha Thundercat - 2 wheeled toy spec
Caterham 7 - hillclimb spec
Yamaha Thundercat - 2 wheeled toy spec